SciClone (NASDAQ: SCLN ) has a new man leading its finance team. The company announced that it hired Wilson Cheung to be its new CFO. Cheung is a longtime executive who most recently served as chief compliance officer, Asia Pacific, at digital marketing agency Velti, following a stint as that company's CFO. Before that, he was CFO and corporate secretary at AXT (NASDAQ: AXTI ) and served in various managerial positions in firms such as KPMG and Yahoo!
Cheung will take up his new position on Tuesday. He will be paid $350,000 a year, will be given options to purchase up to 100,000 SciClone shares, and is eligible to receive an annual performance-based bonus of up to 40% of his salary.
His appointment comes on the heels of a sharp bottom-line fall in SciClone's most recent set of quarterly results, which were delayed because of restatement.